REGISTERED NUMBER: 04190296 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

55 PARK LANE LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

to

4

DIRECTORS:

A Spalton

R Lissner

REGISTERED OFFICE:

55 Park Lane

London

W1K 1NA

REGISTERED NUMBER:

04190296 (England and Wales)

AUDITORS:

TC Group

1 Rushmills

Bedford Road

Northampton

Northamptonshire

NN4 7YB

CURRENT ASSETS

Debtors

4

186,358

186,358

CREDITORS

Amounts falling due within one year

5

186,250

186,250

NET CURRENT ASSETS

108

108

TOTAL ASSETS LESS CURRENT LIABILITIES

108

108

CAPITAL AND RESERVES

Called up share capital

6

108

108

SHAREHOLDERS' FUNDS

108

108

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 5 August 2025 and were signed on its behalf by:

A Spalton - Director

1.	STATUTORY INFORMATION

55 Park Lane Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Service charge funds

The company is responsible for the management of the property known as 55 Park Lane and has instructed a managing agent to collect service charges from lessees in order to fund expenditure incurred in the management of the property. The service charge funds are held in trust on behalf of the leaseholders as required by Section 42 of the Landlord & Tenant Act 1987. All service charge transactions relating to the management of the property are reported separately and are excluded from the company's financial statement.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - NIL).

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Other debtors

186,358

186,358

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Amounts owed to group undertakings

186,250

186,250

During the 2017 year, a long term loan of £475,158 was made to 55 Park Lane Limited from the freeholder, Prestige Properties Societe Anonyme, in order to fund refurbishment works carried out at the property. Repayments of the loan are being made upon receipt of funds from the apartment leaseholders. Repayments made in the year totalled £Nil (2023: £Nil). The balance outstanding included within other debtors and amounts owed to group at 31 December 2024 was £186,250 (2023: £186,250).

Interest payable on the loan is to be paid by Mayfair Property Management Limited, a subsidiary company of Prestige Properties Societe Anonyme. Interest is charged at 5.25% and £9,751 (2023: £8,847) was charged in the year to Mayfair Property Management Limited.

6.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

£

£

1

Ordinary

1

1

1

107

Ordinary Convertible

1

107

107

108

108

Convertible shares shall carry no voting rights at general meetings of the company and do not participate in dividends and other distributions of the company, they shall carry the right for the holder of the share to receive notice of and attend general meetings of the company.

On the first registration of a transfer of an ordinary share, each convertible share shall convert to one ordinary share of £1 to rank pari passu with the existing ordinary share with effect from the date of conversion.

7.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Dilun Mistry FCA (Senior Statutory Auditor)

for and on behalf of TC Group

8.	ULTIMATE CONTROLLING PARTY

The controlling party is Prestige Properties Societe Anonyme.